Sun Country Airlines (NASDAQ:SNCY) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Sun Country Airlines (NASDAQ:SNCY) from a "hold" to a "strong sell".
• Despite the Zacks downgrade, analyst consensus remains a Hold with a $20.29 average price target; the stock opened at $17.97 (market cap ≈ $974M) after the company beat quarterly EPS expectations ($0.17 vs. $0.13) and reported revenue up 7.9% year‑over‑year.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Monday,Zacks.com reports.

A number of other research analysts have also recently issued reports on the stock. Citigroup lifted their price target on shares of Sun Country Airlines from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, March 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Sun Country Airlines in a research note on Monday, December 29th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $19.00 price objective (down from $22.00) on shares of Sun Country Airlines in a research note on Tuesday, January 13th. TD Cowen reiterated a "hold" rating on shares of Sun Country Airlines in a research note on Tuesday, February 10th. Finally, Susquehanna upgraded Sun Country Airlines from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $12.00 to $20.00 in a research note on Friday, January 9th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sun Country Airlines currently has an average rating of "Hold" and a consensus price target of $20.29.

Sun Country Airlines Trading Up 4.1%

SNCY opened at $17.97 on Monday. The stock has a market cap of $973.79 million, a PE ratio of 18.72, a PEG ratio of 0.61 and a beta of 1.59. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average of $18.19 and a 200-day moving average of $15.38. Sun Country Airlines has a 52 week low of $8.10 and a 52 week high of $22.29.

Sun Country Airlines (NASDAQ:SNCY - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Sun Country Airlines had a return on equity of 8.92% and a net margin of 4.69%.The company had revenue of $280.96 million during the quarter, compared to analysts' expectations of $272.98 million. During the same quarter last year, the business posted $0.27 EPS. The firm's revenue for the quarter was up 7.9% compared to the same quarter last year. Equities research analysts predict that Sun Country Airlines will post 1.92 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sun Country Airlines by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,487 shares of the company's stock worth $289,000 after purchasing an additional 1,014 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Sun Country Airlines by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,167,547 shares of the company's stock worth $14,384,000 after purchasing an additional 74,558 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Sun Country Airlines by 2.0% in the first quarter. Empowered Funds LLC now owns 228,893 shares of the company's stock worth $2,820,000 after purchasing an additional 4,569 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sun Country Airlines in the first quarter worth $88,000. Finally, Creative Planning raised its stake in shares of Sun Country Airlines by 115.3% in the second quarter. Creative Planning now owns 34,728 shares of the company's stock worth $408,000 after purchasing an additional 18,596 shares during the last quarter.

Sun Country Airlines Company Profile

Sun Country Airlines NASDAQ: SNCY is an American ultra-low-cost carrier providing a blend of scheduled and charter passenger services. The carrier focuses on leisure markets, offering nonstop flights to sun and ski destinations across the United States, Mexico and the Caribbean. In addition to its scheduled network, Sun Country operates charter services for sports teams, corporate groups and tour operators, as well as seasonal cargo charters that support e-commerce peak periods.

Founded in 1982 and headquartered in Minneapolis, Minnesota, Sun Country has navigated multiple ownership and restructuring phases.

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